NWI.CN · 2019-03-04 12:00:00

Nuinsco Announces Assay Results Grading up to 35.5 g/t from the El Sid Gold Project

Drill Results

Positive Analytical Results Increase Confidence in Potential to Quickly Move to Gold Production

Toronto, March 4, 2019 – Nuinsco Resources Limited (“Nu insco” or the “Company”) (CSE: NWI) today announced

positive analytical results from sampling at the El Sid gold project in Egypt, with assays grading up to 35.50 g/t

gold. The average grade of all 239 samples taken from the waste dump at the past‐producing El Sid gold mine is

4.47g/t gold.

“These results are as expected and confirm the wide distributio n of gold mineralization within waste dumps at El

Sid,” said Paul Jones, CEO. “Given that the waste pile has alre ady been mined, is on surface and has been partially

processed, the average gold grade is very encouraging from the perspective of economic viability. The Company is

in the process of evaluating gold recovery from the El Sid proj ect using conventional, low‐cost processing

m e t h o d s t o q u i c k l y g e n e r a t e c a s h f l o w t o p r o v i d e n o n ‐ d i l u t i v e funding for Nuinsco’s Prairie Lake and Sunbeam

projects and for the evaluation of potential new project acquisitions.”

Through its Egyptian subsidiary Z‐Gold Resources Inc., Nuinsco won a competitive bid for the right to evaluate the

viability of gold production from waste dumps and tailings at the p ast ‐ p r oduc i n g E l S i d m in e i n Eg y p t ’s E ast e r n

Desert. Located approximately 90km west of the town of Quseir o n the Red Sea coast, El Sid is easily accessible

via a paved road that passes through the project site. Three pa st producing gold mines are located on the project

– the largest of which is the El Sid Mine which operated primar ily between 1947 and 1957 and was Egypt’s largest

gold producer.

Site evaluation, processing equipment selection and metallurgy are continuing, and the Company is rapidly

moving toward a production decision. If the project proves to be economically viable the timeline to gold

production is short – measured in months.

In addition to the 239 samples co llected from the El Sid mine w aste dumps for analysis, an additional 20 blank

and standard samples were inserted into the sample stream for Q A/QC purposes. The sampling program included

the use of a backhoe to excavate trenches and pits into the wast e p i l e i n o r d e r t o a s c e r t a i n g r a d e s o t h e r t h a n

from the surface of the pile. The waste dump attains a maximum thickness of 15m, maximum trench depth was

4m while pits were excavated at between 10m and 15m below the u pper surface of the waste dump. All analyses

were conducted by ALS Limited at their analytical laboratory in Izmir, Turkey.

Laura Giroux, M.Sc., P. Geo. is a qualified person as defined by NI 43‐101 and has reviewed and approved the

technical contents of this press release regarding the El Sid Project.

About Nuinsco Resources Limited

Nuinsco Resources has over 45 years of exploration success and is a growth oriented, multi‐commodity mineral

exploration and development company focused on prospective oppo rtunities in Canada and internationally.

Currently the Company has two properties in Ontario – the high‐ grade Sunbeam gold prospect near Atikokan and

the large, multi‐commodity (rare‐earths, niobium, tantalum, phosphorus) Prairie Lake project near Terrace Bay. In

addition, Nuinsco has recently completed an agreement for gold exploitation at the El Sid project in the Eastern

Desert of Egypt – a project with the potential to provide near‐term revenue.

Forward‐Looking Statements

This news release contains certain "forward‐looking statements." All statements, other than statements of historic fact, that address activities, events or

developments that Nuinsco believes, expects or anticipates will or may occur in the future are forward‐looking statements. For ward‐looking statements are

often, but not always, identified by the use of words such as " seek," "anticipate," "believe," "plan," "estimate, “expect," an d "intend" and statements that an

event or result "may," "will," "can," "should," "could," or "might" occur or be achieved and other similar expressions. These forward‐looking statements

reflect the current expectations or beliefs of Nuinsco based on information currently available to Nuinsco. Forward‐looking sta t e m e n t s a r e s u b j e c t t o a

number of risks and uncertainties that may cause the actual res ults of Nuinsco to differ materially from those discussed in th e forward‐looking statements,

and even if such actual results are realized or substantially r ealized, there can be no assurance that they will have the expe cted consequences to, or effects on

Nuinsco. Factors that could cause actual results or events to d iffer materially from current expectations include, among other things, failure to successfully

complete financings, capital and other costs varying significan tly from estimates, production ra tes varying from estimates, ch anges in world copper and/or

gold markets, changes in equity markets, uncertainties relating to the availability and costs of financing needed in the futur e, equipment failure, unexpected

geological conditions, imprecision in resource estimates, succe ss of future development initiatives, competition, operating pe rformance of facilities,

environmental and safety risks, delays in obtaining or failure to obtain tenure to properties and/or necessary permits and app rovals, and other development

and operating risks. Any forward‐looking statement speaks only as of the date on which it is made and, except as may be requir ed by applicable securities

laws, Nuinsco disclaims any intent or obligation to update any forward‐looking statement, whether as a result of new informati on, future events or results or

otherwise. Although Nuinsco believes that the assumptions inher ent in the forward‐looking statements are reasonable, forward‐l ooking statements are not

guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

El Sid Project sample location distribution – 239 samples collected from the surface of the waste

dump and from trenches and pits excavated by back‐hoe.

To learn more, please contact:

Paul Jones, CEO Sean Stokes, Executive VP Cathy Hume, Consultant Website:

www.nuinsco.ca

[email protected] [email protected] [email protected] Twitter:

@NWIResources

416 626‐0470 x 229 416 626‐0470 x 224 416 868‐1079 x 231

Distribution of gold grade for the 239 samples collected from the El Sid waste pile.

Average=4.47g/t

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